QE BaSiC PRoCeSSeS: THe RoLE oF "PRiMaRY DeaLeRs"

"Primary dealers" play a critical role in the creation of US Government debt, the circulation of fiat money, the execution of monetary policy and the governance of the Federal Reserve Bank.

For this they are subsidized handsomely by a multitude of schemes all of which essentially erode the purchasing power of your savings.

It is not suprising that Primary Dealers are subject to rigorous selection criteria...

"The New York Fed expects a primary dealer to maintain a robust compliance program, including procedures to identify and mitigate legal, regulatory, financial, and reputational risks."

"The New York Fed may take action against any primary dealer that does not comply with the standards set forth in this policy. That action will vary depending upon the type of non-compliance, but may range, for instance, from suspension from one or all programs for a period of time to termination as a primary dealer."

FRANKFURT (Reuters) - Four of the five Deutsche Bank employees arrested for money laundering or obstruction of justice related to a carbon trading scheme will remain in jail, the Frankfurt prosecutor said on Thursday.

One Deutsche Bank employee was allowed home on health grounds, the prosecutor said.

The employees were arrested during raids on Germany's flagship lender on Wednesday.

It is too early to conclude whether the raids, by 500 tax inspectors, police and prosecutors, would yield any new evidence, Frankfurt prosecutor Guenter Wittig said, adding, "This will take months. I cannot comment about an ongoing investigation."

The prosecutor's probe is focused on tax evasion linked to tax credits and a scheme involving the trading of carbon permits.

They apply to the Fed. Once they are added to the list the Fed is supposed to make sure they continue to satisfy the eligibility criteria, best practices etc. I don't know what politics goes along with it, but I'm sure plenty.